A new €33 million security printing facility by De La Rue was inaugurated by Prime Minister Joseph Muscat this afternoon.

The investment followed an announcement last November when the company had reversed a decision it took the previous January to shed 300 workers as part of a plan to downsize its operations in Malta.

This new facility is expected to lead to the expansion of the company's workforce from 417 to 500 employees.

In a short address, the Prime Minister said this new facility was unthinkable up to a few months ago.

It was crucial, he said, to keep the De La Rue factory in Bulebel financially viable.

He added that up to a short time ago the country was facing a shortage of skilled workers in the printing industry due to what he described as a "lack of foresight" by previous governments.

This issue was being addressed through new courses being organised at the Malta College of Arts, Science and Technology, Dr Muscat said.

The Prime Minister took the opportunity to assure the company employees that the government was doing its utmost to safeguard their future.